AUS: Palandri Wine Group brings in administrators

The Australia-based company confirmed today (27 February) that it has appointed three administrators at accounting firm Deloitte to consider its future. The same administrators were appointed to Palandri Finance Pty earlier this month.

"The purpose of the appointment is to provide a moratorium period to assess the viability of the business, to evaluate and if possible complete the refinancing proposals the Palandri directors have been pursuing and in the alternative explore all the other restructuring options for the group," Deloitte said.

The administrators intend to continue the wine business, including commencing Vintage 2008 in the next week.